The sneaker botique Foot Locker atmos Japan GK has selected digital commerce trust platform Forter to help fight fraud in its online store.
Since deploying Forter, atmos has significantly reduced chargebacks and maintained an approval rate of over 98%.
Previously, atmos used a rules-based, manual fraud prevention solution. However, fraudsters were able to exploit the system’s weaknesses.
The company also deployed 3D Secure to provide an extra layer of authentication at checkout, but this introduced unnecessary friction for good customers and led to a higher cart abandonment rate.
With Forter, atmos has addressed both challenges by fully automating its fraud prevention program and replacing 3D Secure.
The company’s partnership with Forter has maximised genuine customer experience and lifetime value by making precise decisions about customer trustworthiness at critical interactions. This has reduced friction for good customers, reduced the cart abandonment rate and grown revenue.
Forter’s platform is powered by the largest network of retailers, meaning a fraudster known to one of its customers is known to all.
Forter applies machine learning to deliver decisions that are 100% automated, with average response times under 400 milliseconds. Since the platform has no dependency on manual reviewers, it scales seamlessly as merchants grow.
According to atmos, their previous rules-based system made it challenging to discern between legitimate and fraudulent transactions, and the need for manual reviews placed a heavy burden on operations.
While the introduction of 3D Secure reduced chargebacks, the friction it caused increased cart abandonment rates.
The company said Forter’s fully automated solution solves these challenges by removing the need for manual reviews, increasing our accuracy and streamlining the buyer’s journey.